Global Ballistic Composites Market Size study & Forecast, by Product (Polymer Matrix, Polymer-Ceramic Matrix, Metal Matrix), by Application (Armor, Helmets & Face Protection, Others) and Regional Analysis, 2022-2029

Global Ballistic Composites Market Size study & Forecast, by Product (Polymer Matrix, Polymer-Ceramic Matrix, Metal Matrix), by Application (Armor, Helmets & Face Protection, Others) and Regional Analysis, 2022-2029

Global Ballistic Composites Market is valued at approximately USD 1.89 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 8.6% over the forecast period 2022-2029. Ballistic composites are the raw materials that are primarily adopted in the production of vests, helmets, and body and vehicle armors. The ballistic composites offer better performance compared to ballistic materials as they are lightweight, durable, and have high impact resistance and damage tolerance. Factors such as rising demand from the military & defense sector, growing adoption of lightweight, comfortable and high-strength materials, coupled with the increasing internal and external threats in battlefield scenarios are driving market growth around the world.

According to the World Bank, in 2018, military expenditure accounted for 2.1% of GDP, and the percentage increased and climb up to 2.4% of GDP in 2020. Therefore, the rising spending on the military is propelling the demand for ballistic composites, which, in turn, accelerated the market growth globally. In addition, increasing R&D and mass production of ballistic fiber and increasing investment in the evolution of new technologies and products are creating lucrative opportunities for market growth over the forecasting years. However, the lack of complete protection and several complexities associated with designing ballistic composites are hindering market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Ballistic Composites Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the maintenance of security and stringent regulations, along with increasing technological development. Whereas, the Asia Pacific is expected to grow with the highest growth rate during the forecast period. Factors such as rising expenditure by the military industry, as well as growing focus on high-end combat solutions, are burgeoning the market growth in the forecasting years.

Major market players included in this report are:
Honeywell International Inc
Koninklijke DSM N.V.
BAE Systems
Royal Ten Cate
Morgan Advanced Materials
DuPont de Nemours Inc.
Solvay
Teijin Limited
M Cube Technologies Inc.
MKU Limited
Recent Developments in the Market:
 In January 2022, North Korea confirmed that the country fired a “Hwasong-12” a mid-range ballistic missile with the aim of testing the weapon quality and proficiency.

Global Ballistic Composites Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Product, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World

The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study.

The report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:
Polymer Matrix
Polymer-Ceramic Matrix
Metal Matrix

By Application:
Armor
Helmets & Face Protection
Others

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
ROLA
Rest of the World

Companies Mentioned

Honeywell International Inc
Koninklijke DSM N.V.
BAE Systems
Royal Ten Cate
Morgan Advanced Materials
DuPont de Nemours Inc.
Solvay
Teijin Limited
M Cube Technologies Inc.
MKU Limited

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